Dear Sir/Ma'm,
Whether TDS deduction liability for partnership firm starts from date of Establishment of firm or it starts if Turnover is above 1 crore in preceding financial year?
An individual/HUF is exempted from deducting TDS under section 194A/C/H/I/J, if tax audit was not applicable during the F.Y. immediately preceding the F.Y. in which such income is paid/credited.
Above exception is not applicable for Partnership Firms.
So, if there is any payment which attracts the TDS provisions, then partnership firms has to deduct TDS from the beginning.
CAclubindia
